Memorandum of Cooperation was signed between the deposit insurance organizations representing the Eurasian Economic Union (EEU) members.

Memorandum of Cooperation was signed between the deposit insurance organizations representing the Eurasian Economic Union (EEU) members.

2019-03-05 00:00

From February 25 to 28, 2019, Kazakhstan Deposit Insurance Fund (KDIF) in partnership with International Association of Deposit Insurers (IADI) and with support of National Bank of Kazakhstan was the host of a number of international events in Almaty.

In the course of KDIF–IADI event, a Memorandum of Cooperation was signed between the deposit insurance organizations representing the Eurasian Economic Union (EEU) members. The Memorandum governs exchange of experience, determination of standards and best practices as the strategic guidelines for development of deposit insurance systems, and provides for a framework for a common approach in liquidation, resolution and bankruptcy of financial organizations in the Eurasian Economic Union member states.

In the future, the parties to the Memorandum are committed to establish effective framework to exchange experience and knowledge in professional matters, and to improve both the legislation governing deposit insurance in each member state and the regulatory framework of the EEU.